Securities and Exchange Commission deputy chief accountant Andrew D. Bailey Jr. will leave the commission in December.

In a statement, chief accountant Don Nicolaisen praised Bailey's contributions since joining the SEC in January 2004 to lead the agency's audit group. Nicolaisen said that Bailey was a big part of efforts to implement Section 404 of the Sarbanes-Oxley Act and establish a working relationship with the Public Company Accounting Oversight Board.

Bailey's primary responsibilities were in the professional practice group, focusing on auditing and independence matters. His departure will leave SEC Chairman Christopher Cox with another hole to fill. Nicolaisen had announced his own tentative plans to leave the commission in October and return to the private sector.

Prior to joining the SEC, Bailey was the Ernst & Young Distinguished Professor of Accounting at the University of Illinois, director of the Center for International Education and Research in Accounting and editor of the International Journal of Accounting. During the 2000 academic year, he served as academic accounting fellow in the Office of the Chief Accountant at the SEC.Also formerly the Deloitte & Touche Professor of Accounting, and the head of the accounting departments at both the University of Illinois and the University of Arizona, Bailey and his family plan to take up residence in Cottonwood, Ariz.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access